Compiled by MarketsFarm
WINNIPEG, Sept. 20 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Unifor and Ford Canada reached a tentative agreement Tuesday night after contract talks were extended 24 hours. While neither side offered any details about the deal, the union sought improvements to wages and pensions as well as job security with the transition to electric vehicles. Unifor now wants to use the agreement for new contracts with General Motors and Stellantis.
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- As relations between Canada and India further soured this week with Prime Minister Justin Trudeau’s accusation that the Indian government may have had a role in the June murder of a Canadian citizen, there are concerns trade between the two countries could be hit hard. Speaking with Bloomberg Canada, Asia Pacific Foundation of Canada president Jeff Nankivell said new and existing trade connections are on the line.
- Ahead of the next interest rate announcement from the United States Federal Reserve on Wednesday afternoon, analysts predicted the central bank will likely freeze its benchmark rate. It’s believed the Fed will forgo a hike for the time being as it needs more time to further study the affects previous increases are having on the U.S. economy. Fed chair Jerome Powell is scheduled to make his announcement following the conclusion of the bank’s September policy meeting.
- A ceasefire agreement was reached on Wednesday, one day after Azerbaijan launched an attack into the long-disputed Nagorno-Karabakh. Azerbaijan invaded the Nagorno-Karabakh on the pretext of it being an anti-terrorist operation and that Armenian military forces were also stationed there, in violation of a previous ceasefire agreement. Depending on the source, casualty claims ranged from one death to 27 killed. The deal between Azerbaijan and ethic Armenians in the region was brokered by Russia.
